Soft Tissue Repair Market
In tissue repair, the lost tissue is replaced by granulated tissue, which further matures to form a scar tissue. Repair is further divided into four phases – bleeding, inflammation, proliferation, and re-modelling of the tissue. Regeneration is the process in which healing takes place by proliferation of the residual cells i.e. the cells which are not injured.
Statistics:
The global soft tissue repair market is estimated to account for US$ 5,932.0 Mn in terms of value by the end of 2020.
Global Soft Tissue Repair Market: Drivers
Increasing cases of sports-related injuries is expected to propel growth of the global soft tissue repair market over the forecast period. For instance, according to the National High School Sports-Related Injury Surveillance Study 2017-2018, 1,367,490 cases of sport-related were recorded in high schools in the U.S.
Global Soft Tissue Repair Market: Opportunities
R&D in hydrogel composite biomaterials is expected to offer lucrative growth opportunities for players in the global soft tissue repair market. For instance, in August 2020, researchers from University of Illinois at Urbana-Champaign, U.S., reported an innovative tissue reinforcement strategy: a stratified scaffold containing osseous and tendinous tissue compartments attached through a continuous polyethylene glycol (PEG) hydrogel interface.
Global Soft Tissue Repair Market: Restraints
Ethical issues and lack of standardized guidelines on tissue engineering is expected to hinder growth of the global soft tissue repair market. Lack of availability of human tissue across regions is hampering production and approval of soft tissue repair therapies. This is basically due to ethical concerns, arising from a strong cultural aversion towards use of tissue from human cadavers.
Key Takeaways:
The global soft tissue repair market was valued at US$ 5,618.7 Mn in 2019 and is forecast to reach a value of US$ 8,702.5 Mn by 2027 at a CAGR of 5.6% between 2020 and 2027. Increasing cases of sports-related injuries is expected to propel growth of the global soft tissue repair market over the forecast period.
Allograft segment held dominant position in the global soft tissue repair market in 2019, accounting for 41.0% share in terms of value, increasing research and development along increasing product approval during the forecast period is expected to assist the growth of the segment during the forecast period.
Market Trends
High prevalence of breast cancer is expected to propel growth of the global soft tissue repair market over the forecast period. For instance, according to the American Cancer Society, in 2020, around 276,480 new cases of invasive breast cancer will be diagnosed in women and the disease will lead to around 42,170 deaths, in the U.S.
The market is witnessing entry of new market players. For instance, in September 2020, Venus Medtech (Hangzhou) Inc. a transcatheter heart valve medical device player in China, together with its subsidiaries, the "Group", stock code: 2500) and Jilin Changchun Haoyue Halal Meat Co., Ltd., established a joint venture company, Venus Haoyue Medtech Limited. Venus Haoyue Medtech will be engaged in the design, research and development, manufacturing, sales, and technical services of high-end cardiovascular disease implant devices and surgical soft tissue repair materials.
Regulations
Europe
Europe regulations for translational pipeline from basic research to delivery of innovative regenerative and stem cell-based therapies.
The translational pipeline from basic research to the delivery of innovative stem cell-based and regenerative therapies is covered by a variety of European legal instruments, ranging from regulations on marketing authorization (Regulation (EC) no. 1394/2007) to Directives about clinical trials (Directive 2001/20/EC) and guidelines of good clinical practice (Directive 2001/83/EC, Directive 2009/120/EC).
Japan
Global Soft Tissue Repair Market: Competitive Landscape
Major players operating in the global soft tissue repair market include, B. Braun Melsungen AG, Baxter, BD, Johnson & Johnson Private Limited, Stryker Corp., Integra LifeSciences Corporation, Medtronic plc, Acera Surgical, Inc., Anthrex, Inc., Acelity L.P. Inc., Biorez, Aroa Biosurgery Limited, Misonix, Inc., and Ortho Regenerative Technologies Inc.
Global Soft Tissue Repair Market: Key Developments
Major players in the global soft tissue repair market are focused on adopting various inorganic strategies to enhance their market share. For instance, in August 2020, Ortho Regenerative Technologies Inc., an orthobiologics company focused on the development of novel soft tissue repair regenerative technologies, announced the closing of a non-brokered US$ 2.5 million private placement of units.
Segmentation
Scope of the report
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients